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Cypress Drilling Results on Twenty-One Silver-Gold Project in Nevada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 21, 2012) - Cypress Development Corp. (TSX VENTURE:CYP) announces that a Phase One drill program has been completed on its 420 acre Twenty-One silver-gold property located in Mineral County, west central Nevada.

Twenty One Silver-Gold project location map: http://www.cypressdevelopmentcorp.com/i/maps/21/Twenty-One-Silver-Gold-Location-Map.jpg

The Reverse Circulation drill program consisted of 5 holes totaling 1700 metres. The program was designed to test a 1 kilometre wide zone of alteration and local silver-lead-gold mineralization discovered by Cypress during surface sampling of the contiguous Silver and Jasperiod claim blocks. The property is situated within the Walker Lane structural and metallogenic province of western Nevada.

Twenty-One Silver- Gold Property Drill Hole Location Map: http://www.cypressdevelopmentcorp.com/i/maps/CYP-21-SGdrill.jpg

The property lies on the direct extension of the Mindora resource area and within a regional-scale, ENE trending belt of both Tertiary and pre-Tertiary age precious and base metal mineralization.

Drilling was oriented to produce a cross section of the mineralized trend. Sampling was done on ten foot intervals from hole collar to completion depth. The ten foot sample intervals produced large samples averaging approximately 8 kilograms in weight. These large samples were done to ensure a high quality representative sample of each ten foot interval was obtained.

Highly anomalous silver values up to 19 g/t were found in four of the five holes. The higher silver values are accompanied by highly anomalous bismuth values up to 33 ppm. The bismuth mineralization strongly suggests that the large area of alteration, brecciation and silver mineralization is related to an intrusive igneous stock at depth.

Anomalous silver and bismuth mineralization were found over down hole widths up to 270 feet within both a silica flooded and brecciated volcaniclastic cap rock, within underlying, Triassic age limestone units. Hornblende porphyry dikes were also intersected in the drilling. The potential relationship of these dikes to the silver bismuth mineralization is currently being studied.

The assays results from the completed drilling are summarized in Table 1 below. Assaying of the samples was done by ALS Chemex in Reno, Nevada. Drill hole AJ-1 did not return any significant assays.

To view the table associated with this release, please see the following link: http://media3.marketwire.com/docs/621cyp_table.pdf

Drill Results Summary:

/T/

-- The completed five hole drill program showed wide spread but sub-

economic silver mineralization with two distinct rock units.

-- The anomalous silver zones are dominantly located within well oxidized,

Triassic age limestone and siltstone units.

-- Highly anomalous bismuth accompanies the higher silver values.

-- Gold values are low with rare, low level anomalies which are associated

with higher silver/bismuth zones.

-- All surface samples and pertinent drilling data are being compiled to

determine the next phase of exploration.

/T/

About Cypress Development Corp.:

Cypress Development Corp. is a diversified precious and base metals exploration and development company with properties in Red Lake, Ontario, Canada, and in Nevada, U.S.A.

Robert Marvin, P.Geo., CPG, Exploration Manager for Cypress Development Corp. is the Qualified Person as defined by National Instrument 43-101 and is supervising both the project field work and the preparation of the technical information in this release.

To find out more about Cypress Development Corp. (TSX VENTURE:CYP), visit our website at www.cypressdevelopmentcorp.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Don Huston, President

This news release may contain certain "Forward-Looking Statements" that may involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. For a more detailed discussion of such risks and other factors, refer to the Company's filings with Canadian Securities regulators available on www.sedar.com.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
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